Simple Interest

What is the formula for calculating simple interest?

• P * R + T / 100

• P * R * T + 100

• P + R + T / 100

• P * R * T / 100

If the principal amount is $5000, the interest rate is 5%, and the time period is 3 years, what is the simple interest?

• $250

• $1000

• $300

• $750

If the principal amount is $8000, the interest rate is 8%, and the simple interest is $640, what is the time period?

• 5 years

• 3 years

• 10 years

• 2 years

If the principal amount is $3000, the time period is 4 years, and the simple interest is $720, what is the interest rate?

• 10%

• 3%

• 6%

• 5%

What is the difference between simple interest and compound interest?

• Compound interest

• Double interest

• Triple interest

• Half interest

If the principal amount is $7000, the interest rate is 6%, and the time period is 2 years, what is the total amount after simple interest?

• $8200

• $8000

• $7500

• $8500

If the principal amount is $4000, the interest rate is 10%, and the time period is 5 years, what is the amount of interest earned?

• $1000

• $3000

• $2000

• $1500

If the principal amount is $6000, the interest rate is 4%, and the time period is 3 years, what is the amount after simple interest?

• $720

• $600

• $800

• $500

If the principal amount is $9000, the interest rate is 9%, and the time period is 6 years, what is the simple interest?

• $4860

• $7200

• $3000

• $5400